12 Nov 2013
Flash: Aus business confidence/conditions eyed - Westpac
FXstreet.com (Barcelona) - Australia’s data calendar holds some interest, notes Sean Callow, FX Strategist at Wetpac, although he acknowledges it will be unlikely that the data has much impact on the AUD/USD,
Key Quotes
"At 11:30am Syd/8:30am Sing/HK we will see the Oct business survey from NAB. Business confidence surged from -5 in Jul to +4 in Aug as the election result seemed increasingly clear and then to +12 in Sep, a high since April 2010."
"But there has been a sharp divergence with trading conditions, as this index has ticked up only to -4, still a long way short of the +5.5 average of the past decade. Should the conditions index improve notably, the RBA will surely take note – and vice versa."
Key Quotes
"At 11:30am Syd/8:30am Sing/HK we will see the Oct business survey from NAB. Business confidence surged from -5 in Jul to +4 in Aug as the election result seemed increasingly clear and then to +12 in Sep, a high since April 2010."
"But there has been a sharp divergence with trading conditions, as this index has ticked up only to -4, still a long way short of the +5.5 average of the past decade. Should the conditions index improve notably, the RBA will surely take note – and vice versa."